Blue Owl Capital Corporation (OBDC) Investor presentation summary

Financial performance highlights

• Net asset value per share was $14.26, down from $14.41 at the end of Q1'26, while adjusted net investment income per share rose to $0.341 from $0.311.

• GAAP net investment income per share was $0.36, and adjusted net income per share improved to $0.131 from a loss in the prior quarter.

• Annualized adjusted ROE on net investment income was 9.6%, and on net income was 3.7%.

• Total portfolio at fair value was $15.0 billion, with 229 portfolio companies.

• Debt to equity ratio was 1.11x, within the target range, and liquidity stood at $4.5 billion in cash and undrawn debt.

Portfolio composition and risk

• 79% of investments are senior secured, 73% are first lien, and 96% are floating rate debt.

• Weighted average total yield of the portfolio was 9.5%, with a weighted average spread over base rate of 5.6%.

• Investments on non-accrual represented 2.8% and 0.8% of the portfolio at cost and fair value, respectively.

• No material change in overall portfolio risk ratings quarter-over-quarter.

• Top 10 positions accounted for 23% of the portfolio at fair value, with broad industry diversification.

Investment activity and asset mix

• New investment commitments (net of sell downs) were $0.3 billion, with net funded investment activity of -$0.3 billion.

• Average new investment commitment in new portfolio companies was $49.5 million, with a weighted average maturity of 6.1 years.

• 95.4% of new investment fundings were first-lien debt in Q2'26.

• Portfolio included 229 companies across 30 industries, with a weighted average borrower EBITDA of $242 million.

• Net LTV remained stable at 47%, and interest coverage improved to 2.0x.